Palantir Technologies (NYSE:PLTR) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Palantir Technologies (NYSE:PLTR) in a research note issued to investors on Monday, Benzinga reports. The firm currently has a $35.00 target price on the stock.

Several other brokerages have also commented on PLTR. Royal Bank of Canada restated an underperform rating and set a $5.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 6th. Mizuho increased their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, March 7th. Monness Crespi & Hardt upgraded Palantir Technologies from a sell rating to a neutral rating in a research note on Friday, April 26th. HSBC lowered Palantir Technologies from a buy rating to a hold rating and set a $22.00 target price for the company. in a research note on Wednesday, February 14th. Finally, Jefferies Financial Group upgraded Palantir Technologies from an underperform rating to a hold rating and increased their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $19.19.

Palantir Technologies Trading Down 10.2 %

NYSE PLTR opened at $22.65 on Monday. The company has a market capitalization of $50.12 billion, a PE ratio of 251.69, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. The business’s 50-day moving average price is $23.36 and its 200 day moving average price is $20.25. Palantir Technologies has a twelve month low of $7.59 and a twelve month high of $27.50.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Equities analysts predict that Palantir Technologies will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the transaction, the insider now owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the transaction, the insider now owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now directly owns 181,830 shares in the company, valued at approximately $4,563,933. The disclosure for this sale can be found here. Insiders have sold a total of 7,356,273 shares of company stock valued at $182,143,602 in the last quarter. Insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds have recently made changes to their positions in the stock. Halpern Financial Inc. lifted its holdings in shares of Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after purchasing an additional 440 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Palantir Technologies by 16.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock worth $74,000 after buying an additional 463 shares in the last quarter. Principle Wealth Partners LLC raised its stake in shares of Palantir Technologies by 4.8% in the 1st quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after buying an additional 481 shares in the last quarter. GSB Wealth Management LLC raised its stake in shares of Palantir Technologies by 4.6% in the 1st quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock worth $310,000 after buying an additional 595 shares in the last quarter. Finally, Fiduciary Alliance LLC raised its stake in shares of Palantir Technologies by 1.0% in the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after buying an additional 618 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.